Comcast prepares all cash bid for 21st Century Fox

As a Norse Thunder God might tell you after learning it the hard way, don't assume anything's over until it's over.

The Commission can clear the ￡22 billion (US$30 billion) bid with or without conditions or it can open a four-month investigation if it has serious concerns about the deal.

Comcast is asking investment banks to increase the bridge financing facility they have already arranged for the Skyoffer by as much as $60 billion to finance the Fox bid, Reuters has reported. Thus reenter into the picture Comcast.

Fox agreed in December to sell the assets in question to Walt Disney Co. for $52.4 billion in stock. Comcast would try to buy the same assets that Disney is attempting to acquire. Earlier this year, Comcast, who already own NBC and Universal Studios, made their intentions known that they were planning an effort to outbid the House of Mouse for Fox, even though Fox had already denied Comcast's offer in favor of Disney's. In February, Comcast outbid Fox for the 61% stake the media company doesn't own in United Kingdom satellite company Sky Plc., agreeing to pay $30 million. Apparently up to the tune of $60 billion. This is seeming increasingly unlikely after the Department of Justice has already voiced its disapproval amidst antitrust concerns. The planks of the two companies requested longtime CEO Bob Iger to remain on throughout the ending of 2021. "The UK government has stated that it will give its ruling on the Fox/Sky deal by 13 June and it is at this point we think we could see Fox raising its bid for Sky", UBS said.

We contacted Comcast for comment and will update this story if we get a response.

Back in December, Disney said it reached an agreement with Fox to buy the company's film and TV studios, as well as its cable networks and worldwide TV businesses in a stock-based deal. But the largest bid is still the most likely to walk away with the film and TV properties controlled by Fox.

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